Without significant oversight, Congress’s economic relief bill will leave millions of everyday Americans in financial peril.
At a time when so many Americans are left wondering how long they can stay afloat without any income, the last thing we should be doing is cutting crucial safety net programs.
How much should private equity benefit from congressional stimulus dollars? Groups are battling over the answer.
As the people who benefited the most from a decade of economic growth, the hundreds of billionaires in America are in a unique position to do a great deal of good at a pivotal moment. But so far, they’re failing to do so.
As Americans adapt to shuttered schools, restaurants and offices, the coronavirus pandemic is exposing shortcomings in the U.S. social-safety net and a system that relies heavily on philanthropists to fill the gaps.
‘Patriotic Millionaires’ is truly patriotic. How refreshing it was to read Morris Pearl’s op-ed on taxing the wealthy.
New York has a wealth problem. Despite being one of the richest states in the country, the gap between our wealthiest and poorest residents is the widest it’s ever been and the worst in the United States.
Wildfires are ravaging California and Australia – and local fire departments are alarmingly underfunded and underprepared.
A recent poll found that a decisive 92 percent think it’s a good idea to raise taxes on the wealthiest among us. As a wealthy New Yorker, I am a part of that 92 percent. And luckily, New York now has an opportunity to get it done.
As we continue to debate what direction is right for our country, it’s worth noting that both sides of the ideological divide ultimately agree on one important issue: taxing the rich in a fair and equitable manner. But it wasn’t always this way.
The Trump administration publicly floated the idea of new tax cuts to try and keep the economy afloat amid investor concerns. Speaking as an investor myself, this is a foolish idea at best. At worst, it’s a dangerous handout to the wealthy at the direct expense of our country’s public health.
At least one member of the 1 percent admits it’s wrong his money gives him political access.
Michael Bloomberg took fire from just about every other candidate on stage at the Democratic debate last night. The former New York City mayor earning boo’s from the other candidates and the audience when he said Bernie Sanders economic platform would get President Trump elected for a second term. Stephen Prince, Vice Chair of the Patriotic Millionaires, joined Cheddar to discuss the candidates economic plans differ.
The carried interest loophole allows private equity fund managers, some of the richest people in the world who typically earn millions of dollars a year, to cut their tax rate nearly in half. Thanks to this loophole, they end up paying a lower tax rate than their secretaries and the janitors who clean their offices.
A conversation to have with your family and other stakeholders.
Patriotic Millionaires isn’t just about advocating higher taxes for the wealthy, as Chair Morris Pearl discussed in a recent Talking Tax episode. The group also thinks fairness requires multinational companies to pay tax in the countries where their sales revenue comes from, and they should disclose how much tax they pay in each country.
Originally aired on Bloomberg Tax on January 31, 2020. Patriotic Millionaires isn’t just about advocating higher taxes for the wealthy, as Chair Morris Pearl discussed in a recent Talking Tax episode. The group also thinks fairness requires multinational companies to pay tax in the countries where their sales revenue comes from, and they should disclose how much tax they pay in each country. In this … Continue reading BLOOMBERG TAX: Millionaires Group Eyes Corporate Tax Fairness, Too (Podcast)
With all due gratitude to charities and fundraisers, scientists overwhelmingly agree that only massive, fully-funded government action can stop this devastation. Even Bill Gates says so.
Pearl, who made his wealth initially at BlackRock Inc., talks with Bloomberg Tax’s Amanda Iacone about the wealth tax proposals, legislation to tax investment income at the same rate as earned income, the “ridiculous” carried interest tax benefit for fund managers, and more.
A group of wealthy celebrities and business people have signed an open letter calling on fellow billionaires and millionaires around the globe to support tax increases in an effort to alleviate growing economic disparity.